Masdar has received USD 615 million of bank financing and USD 153 million in equity from its Spanish and French partners to build the world’s largest concentrated solar power (CSP) plant. Two local banks and eight foreign banks underwrote the 22-year deal. France’s Total, Spain’s Abengoa and Abu Dhabi-based Masdar intend to construct a USD 600 million plant called Shams 1. The plant will have a 100MW capacity and qualify for carbon credits under the United Nation’s Clean Development Mechanism (CDM). Masdar holds a 60% stake in its flagship project, while the European partners hold 20% each.